Empire Energy Corporation Intl. (fka EEGC)

[BobSinCA]

Unfortunately, we will likely have to wait a while for the rig.

The July 2 PR had the following to say:

Once the (GEFCO)purchase contract is finalized, the rig will be shipped to Australia within 6 weeks.

There has been no indication that the purchase contract has yet been finalized almost three months later. GEFCO has previously indicated that they require cash to finalize the purchase contract, and EEGC continues to search for financing.

Since one must also add shipping, set up, and inspection time, this timeline also suggests risk to the company's recently announced intent to recommence drilling in mid-November.

However, Mr. Haftel did advise on September 6 that money should be in the bank 'in a week or so'; if that happens this week, perhaps November/December drilling would be possible.